Warning: "independent Financial Advice" For Expats

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Warning: "independent financial advice" for expats Jun 21, 2007
Beware of salesmen posing as "independent financial advisors"

This article fairly accurately reflects my own experience (see below): How expats are exploited by the offshore financial services industry

Other info that I wish I'd read beforehand (bearing in mind that the money was paid in an entirely regular manner to the insurer for a real investment and not to the "advisor"):
How you can spot a con artist
How to recognise a scam
Scambuster guide

I was persuaded to sign up for a 20-year life insurance policy by a company claiming to provide independent financial advice on offshore investments for expats. It was only after receiving the policy documents that I realized that their content contradicted what I had been led to believe. The "independent financial advisor" had misrepresented crucial aspects of the investment and told me exactly what I needed to hear in order to sign up. He seemed straightforward and knowledgeable and had a ready answer to every question. He seemed the kind of person you'd want to do business with. Yet I was subsequently able to confirm, by asking a crucial question about his background which I had asked him when I first met him, that he had been lying to me: he told me two equally impressive and convincing-sounding stories, but in each case the facts were different.

Please be careful out there.

UAESandy
Dubai Expat Wannabe
Posts: 8

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Independent Financial Advisors Jun 27, 2007
Ref posted about independent financial advisors,I would be interested in communicating with the poster to compare notes - it would have to be off this forum
Judith
UAE, Dubai Forum starter
Posts: 1

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Re: Independent Financial Advisors Jul 04, 2007
Judith wrote:Ref posted about independent financial advisors,I would be interested in communicating with the poster to compare notes - it would have to be off this forum

Why not post your own experience here? You can easily do so without naming names.
UAESandy
Dubai Expat Wannabe
Posts: 8

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